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Startup accelerators have gained immense popularity and have a proven track record of helping startups launch their business—however, you might be asking yourself, “Does an accelerator make sense for my business?” Below we aim to bring clarity to what an accelerator is and highlight what you can expect from an accelerator program.
Definition from Harvard Business Review: Startup accelerators support early-stage, growth-driven companies through education, mentorship, and financing. Startups enter accelerators for a fixed-period of time, and as part of a cohort of companies. The startup accelerator experience is a process of intense, rapid, and immersive education aimed at accelerating the life cycle of young innovative companies, compressing years’ worth of learning-by-doing into just a few months.
There are four distinct factors that make a startup accelerator unique: they are fixed-term, cohort-based, and mentorship-driven, and they culminate in a graduation or “demo day.”
Startup accelerators are not all created equal. TechStars and Y Combinator were the first two startup accelerators to emerge, and in essence, have set the bar for all other accelerators. In an accelerator program you can expect, at minimum, these four things:
“Accelerators are playing an increasing role in startup communities throughout the United States and beyond. Early evidence demonstrates the significant potential of accelerators to improve startups’ outcomes, and for these benefits to spill over into the broader startup community.” (Harvard Business Review)
Have additional questions about startup accelerators or product development? Send them our way, firstname.lastname@example.org
*Cited: What Startup Accelerators Really Do (Harvard Business Review)
3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.